Browsing by Author "Sahin, S."

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    The relative effects of crude oil price and exchange rate on petroleum product prices: evidence from a set of Northern Meditteranean countries
    (Elsevier, 2014) Berument, Hakan; Sahin, A.; Sahin, S.
    This paper provides a set of empirical evidence from five Northern Mediterranean countries that are subject to similar refinery reference prices regarding the relative sensitivity of crude oil prices and exchange rate on (pre-tax) petroleum product prices. The empirical evidence reveals that a one percent increase in exchange rate (depreciation) increases petroleum product prices less than a one percent increase in crude oil prices does in the long run. In the short run, however, a one percent increase in exchange rate increases petroleum product prices more than a one percent increase in crude oil prices does. © 2014 Elsevier B.V. All rights reserved.
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    Turkish straits and an important oil price benchmark: Urals
    (International Association for Energy Economics, 2023-07-01) Ayasli, D.E.; Yalcin, Y.; Sahin, S.; Berument, M. Hakan
    The Turkish Straits is one of the busiest waterways in the World. Around 4% of the world’s crude oil trade passes through the Turkish Straits. We model the CIF Mediterranean price of Urals crude, one of the world’s most critical medium gravity crude brands that passes through the Turkish Straits. The empirical evidence provided here suggests that congestion (measured in terms of the waiting time for entering the Turkish Straits) increases the CIF Mediterranean price of Urals crude up to 5.05% and 3.09% for the İstanbul and Çanakkale straits, respectively. However, similar supporting evidence could be found for neither an important benchmark oil (Brent) nor Iranian Light, which has similar characteristics and can be considered a close substitute for Urals crude in the Mediterranean refinery market. This shows that the Turkish Straits have an important impact on the price of this important medium crude oil in world oil markets.